Kimberley Brown
Joe Gogel / WW
Research Paper
September 22, 2011

Dean Foods vs. Dutch Lady Milk Industries The dairy industry will be our point of interest as we look at two very different companies in two different countries. Dean Foods is located within the United States, and Dutch Lady is located in Malaysia. This analysis will look at both sets of financial statements for 2009 and see how they compare. There will be many different variables that will play into how these financial statements measure up to each other. Dean Foods production began in 1976 and is part of a larger organization called Fresh Dairy Direct-Morningstar. We will only be looking at the financial statements for Dean Foods out of this organization. Dutch Lady's incorporation began in 1963 and is also a part of a larger organization called Royal Friesland Campina. With this organization we will only be looking at the financial statements for Dutch Lady. By taking two dairy organizations that are small parts of larger corporations, it might seem to make the companies appear to be more of an "apples to apples" comparison. The two companies that we are looking at in 2009 are both publicly traded on the stock market. Dean Foods can be found on the New York Stock Exchange, while Dutch Lady would be found on Bursa Malaysia, the local stock exchange in Malaysia. (www.dutchlady.com.my) As we look at the stock market data from 2009, we learn some interesting facts about both of these companies. If one examines the past five years for both companies on this stock market, it is easy to get a good look at how they fared in 2009. According to this data, Dutch Lady had a very rough time on the exchange in the beginning of 2009. Looking closely, we can see that going into the second quarter of the exchange the company began to increase in its exchange value. Dutch Lady started